Daily Forecast - 08 April 2016
WTI Crude May contract
WTI Crude headed for first resistance at 3810/20. Shorts here look more risky today & would need stops above 3860. A break higher not out of the question & signals further gains to 3904 then minor resistance at 3930/40. If this does not hold a rally look for the next target of 3980/85.
There is only minor resistance at 3790/80 & failure here risks a slide again to 3720/15 then support at 3685/80. A good chance this will hold the downside for the second time today but longs need stops below 3650. Further losses then target support at 3585.
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